Options update for 1/20...Don't know why, and don't care--SHE'S GONE!!
Rough quote: "For personal and professional reasons Susan Crocker announced today she will resign from the TSE and the TFE effective March 15." I bear her no personal animus (although they sure made it *personal* with me), but I am sure glad to see her go. Hopefully she will pack up her protege, Steve Rive, and take him with her. These are truly the wrong people at the wrong time with the absolute wrong ideas. I don't know if she walked or was pushed, although I suspect the latter. There were several rumours sweeping the floor today-- Instinet and Versus will be allowed to open up their trading systems, (which may well put the TSE out of business); the automation of futures and options has been postponed indefinitely; and others. I don't know if any of them are true, but the next few days should be very interesting. The Torex trading system is way behind schedule and prone to break-downs, so the word is the TSE is allocating all its resources to making it work. Also it seems the TSE is way behind the curve on Y2K and the panic bells are going off there as well. Any reason that delays this idiotic move towards mindless automation is welcome. It provides more time for reason to work its way back into people's minds.
Now if we can just get Fleming ousted. (It *is* personal with him for me.)
Interesting market today. Dow soars and Toronto yawns. Munk finally off-loaded his Trizec ABX holding. Looks like the street is underwater on this bought deal. Volatilities got slammed on the news, calls down almost ten points early, but crept back to 42,42. Hard to see ABX going above C$25.85 without a huge rally in bullion.
Well, that's all I have time for now. I haven't felt this good since LBJ announced he wasn't running in 1968. If we get rid of Fleming, I'll probably be as ecstatic as I was when Nixon resigned.
Happy trading.
Porter |
